Posts Tagged ‘ICBC’

Are insurance rates soaring across BC?

Written by Harold McNeill on January 29th, 2018. Posted in Editorials, Tim Hortons Morning Posts


Car Crash

Scenes like this are all too common in BC and take a tragic toll in lives lost and families destroyed. The cost is high and we all pay but are Insurance Rates out of control in B.C.? Check out this article, as you may be surprised to see where British Columbia sits in relation to other Provinces.

This article is brought forward following an article in the Saanich News stating ICBC rates for some classes of vehicle are grossly inflated as compared the Alberta.

The Apocalypse Now Narrative

While I do not subscribe to a “fake news” narrative, it seems newspaper reporters often pick the worse possible narrative and treat that as if it was the only fact.  That is what is now happening with respect to insurance rates in BC where private providers have been fighting the public system, ICBC, for years.

One headline reads, “Drivers facing rate hike as ICBC deficit is expected to hit $1.3 billion” (Vancouver Sun headline, January 29). Other BC News outlets carry a similar doom and gloom narrative about looming debt and rate increases.

I do not argue ICBC faces a deficit, for reasons noted below, but would it surprise you British Columbia, Saskatchewan and Manitoba (the three provinces with public auto insurance) are among those with the lowest rates in Canada? Who has the highest? Alberta and Ontario. Alberta is about $1100 per year higher than BC and Ontario, at $5,500 per year, about three times higher.  Now to the ICBC debt.

Over the last several years, the provincial government has transferred millions from the Corporation to general revenue. Following are just two of news reports in which soundly criticize the practice.  In effect, the Conservatives (using their Liberal acronym) has constantly placed the Corporation in lose-lose position vis a vis their customers.  Now the rate comparisons among the Provinces.

Times Colonist (August 2016)
Global National (August 2016)

Some years back the BC Government attempted to raid the BC Pension Corporation of a multibillion-dollar fund in the same manner, but an uprising among pensioners and other interested parties help to thwart that attack. By having all that money transferred to an ‘unfunded liability’ of the government you can only imagine the disaster that would have become.

Now to the ICBC situation.

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Comments

  • Andrew Dunn

    May 14, 2019 |

    Thank you so much for all your help thus far Harold, aka. Tractor guy! I could not have done without you!

  • Harold McNeill

    April 25, 2019 |

    I find it interesting to contemplate how a small community evolves in general isolation from the rest of the world. We have a similar situation in the northern communities in Canada to which access is limited. The inclusion of the world wide web and mass media has changed things, but these communities are still left pretty much to their own devices when it comes to personal interaction.

  • Harold McNeill

    March 19, 2019 |

    Hi Dave. Not that I am aware and I have a fairly comprehensive family tree for the McNeill side of the family. I will pull it up and scan. Cheers, Harold. Great chatting with you and I will give Ben a nudge.

  • Dave Cassels

    March 16, 2019 |

    Were you related to Guy McNeill who owned the Bruin Inn in St. Albert in the late 40’s or early 50’s? Guy was a close friend of my father-in-law who was the first President of the Royal Glenora Club. My phone number is 780 940 1175. Thank you.

  • Harold McNeill

    March 15, 2019 |

    So glad you found the story and enjoyed. Indeed, they were memorable times. I did a fair amount of searching but never managed to contact any of the Murffit kids. However, it was neat to make contact with the Colony and someone I knew from back in the day. I have enjoyed writing these stories from back in the 1940s and 50s and have made contact with a lot of friends from those early years. I will give you a call over the weekend. Cheers, Harold

  • Yvonne (Couture) Richardson

    March 7, 2019 |

    I enjoyed your story. I too, lived in Pibroch in 1951, as my parents owned the hotel there. I was a very close friend of Bonnie Murfitt at the time. I moved to Edmonton in 1952, however, and have not seen her since. I would like to be in touch with you to talk about your story. My email is listed above and my phone number is 780-475-3873.

  • Laureen Kosch/Patry

    March 5, 2019 |

    I grew up in Pibroch and would not trade those years for anything. “ Kids don’t know how to play anymore” Never was a truer statement made. During the summer we were out the door by 8am, home for lunch, and back when it got dark. For the most part our only toys were our bikes and maybe a baseball mitt. I will never forget the times when all the kids got together in “Finks field” for a game of scrub baseball. Everybody was welcome, kids from 8 to 18. I didn’t know it then but I guess I had a childhood most dream of. Drove thru town last summer. It all looked a lot smaller.

  • Harold McNeill

    January 13, 2019 |

    Well, my dear, it’s that time again. How the years fly by and the little ones grow but try as you may you will have a hard time catching up to your Daddy. Lots of love young lady and may your day be special
    Love, Dad

  • Harold McNeill

    January 5, 2019 |

    Guess what? My response went to the Spam folder. Hmm, do you suppose the system is trying to tell me something?

  • Harold McNeill

    January 5, 2019 |

    Thanks, Terrance. Your comment came through but went to the Spam folder. Have pulled it out and approved. Can you send another on this post to see if you name is now removed from Spam? I’m not sure why it does that. Cheers, Harold